Dakota Wealth Management Trims Holdings in ITT Inc. (NYSE:ITT)

Dakota Wealth Management trimmed its position in ITT Inc. (NYSE:ITT) by 8.2% in the 4th quarter, HoldingsChannel reports. The firm owned 8,245 shares of the conglomerate’s stock after selling 740 shares during the quarter. Dakota Wealth Management’s holdings in ITT were worth $1,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of ITT. Eagle Asset Management Inc. purchased a new position in shares of ITT in the third quarter worth about $67,503,000. Select Equity Group L.P. raised its stake in shares of ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after purchasing an additional 351,206 shares during the last quarter. Millennium Management LLC raised its position in ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after acquiring an additional 262,470 shares in the last quarter. AQR Capital Management LLC lifted its holdings in ITT by 115.6% in the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after acquiring an additional 131,708 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in ITT in the second quarter valued at approximately $9,936,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ITT shares. Stifel Nicolaus boosted their price target on ITT from $171.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Wolfe Research began coverage on ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating for the company. KeyCorp boosted their price objective on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday. TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Citigroup dropped their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.25.

ITT Stock Performance

Shares of ITT stock opened at $153.10 on Friday. ITT Inc. has a 52 week low of $118.58 and a 52 week high of $161.13. The business’s fifty day simple moving average is $149.40 and its 200-day simple moving average is $143.80. The firm has a market cap of $12.48 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same quarter in the prior year, the company posted $1.37 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.319 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. ITT’s payout ratio is currently 21.84%.

ITT Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.